It doesn’t matter who you are— most households fall into one of two camps: the folks who play the lottery faithfully, and the ones who say they never waste their money on it. But when the jackpot swells to $1.8 billion, that line gets blurry. Suddenly it’s hard not to dig for a few crumpled bills in your wallet or scrape together a handful of quarters just to take a shot. Because for the price of a drive-thru meal or your morning coffee run, you could hold a ticket worth more than the GDP of some small nations.
Last weekend, two players hit that dream. Tickets sold in Texas and Missouri matched the winning Powerball numbers, each worth nearly $900 million if taken as an annuity— or about $410 million in a lump sum before taxes.
That’s the headline. But the story of what happens after the oversized check gets printed? That’s where reality kicks in—and where history suggests it’s not always a happy ending.
The Myth: “Most Lottery Winners Go Broke” You’ve probably heard the statistic that 70 percent of lottery winners end up bankrupt. It’s been repeated so often that it feels like fact—but researchers say it’s not.
Studies in Europe and the U.S. show that most large-jackpot winners actually maintain higher life sat- isfaction for years. Many live quietly, invest wisely, and slip out of the spotlight. For them, winning really does provide comfort, stability, and security.
But that doesn’t mean there aren’t casualties. Roughly one in three winners see their fortunes collapse through mismanagement, bad luck, or worse.
THE REALITY: CAUTIONARY TALES The cautionary stories stand out because they are unforgettable: - William “Bud” Post III won $16 million in Pennsylvania. Within a year, he was broke, sued by an ex-girlfriend, and the target of a murder plot by his own brother.
- Jack Whittaker of West Virginia claimed a $314.9 million jackpot in 2002. He was robbed multiple times, tangled in lawsuits, and endured devastating family tragedies. He later said he wished he had torn up the ticket.
- Evelyn Adams won the New Jersey lottery twice in the 1980s, totaling $5.4 million. She gambled much of it away in Atlantic City and now lives in a trailer.
- Jeffrey Dampier of Illinois won $20 million in 1996. Less than a decade later, he was murdered by his sister-in-law in a plot to steal his money.
These stories illustrate the risks of sudden wealth—often called “sudden wealth syndrome.” Psychologists describe it as a cocktail of isolation, anxiety, and reckless spending. When the money comes faster than the habits to handle it, the results can be tragic.
LESSONS FROM THE QUIET SUCCESSES Not every story ends in disaster. Many winners build new lives without making headlines. Financial experts say the difference usually comes down to a few key decisions: - Take the annuity. Lump sums are tempting, but annuities provide guardrails and reduce the chance of spending it all at once.
- Build a trusted team. Winners who surround themselves with experienced financial planners, attorneys, and tax professionals are better equipped to weather the storm.
- Set boundaries. Friends, relatives, and strangers will come calling. Clear limits keep generosity from becoming a drain.
- Allow joy—but budget it. Experts even recommend a “fun fund”—a small portion of winnings earmarked for enjoyment, while the rest is locked away for the future.
MORE THAN A PAYDAY For the two newest multimillionaires in Texas and Missouri, the real story won’t be the giant check—it will be what comes after. History says the jackpot can be both blessing and curse, depending on how they navigate the spotlight and the sudden pressure of wealth.
The myth may be exaggerated, but the cautionary tales are real. A lottery win is less like a finish line and more like a starting gate. For some, it opens the door to security and peace of mind. For others, it can unleash struggles more powerful than any jackpot dream.
What about you? If you woke up holding the winning ticket, what’s the very first thing you’d do? Would you stay anonymous, call a lawyer, or shout it from the rooftops? Send us your thoughts—email beckhamcountymedia@ gmail. com or share on Facebook @ The Beckham County Record. Selected responses may appear in next week’s edition.
